$49.48 Million in Sales Expected for Plug Power Inc (PLUG) This Quarter
Wall Street brokerages expect Plug Power Inc (NASDAQ:PLUG) to post sales of $49.48 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Plug Power’s earnings, with the highest sales estimate coming in at $50.92 million and the lowest estimate coming in at $48.70 million. Plug Power reported sales of $61.43 million during the same quarter last year, which indicates a negative year-over-year growth rate of 19.5%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that Plug Power will report full-year sales of $165.33 million for the current year, with estimates ranging from $159.40 million to $169.80 million. For the next year, analysts anticipate that the firm will post sales of $219.71 million, with estimates ranging from $207.75 million to $235.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Plug Power.
Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Thursday, August 9th. The electronics maker reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). Plug Power had a negative net margin of 66.16% and a negative return on equity of 108.78%. The business had revenue of $39.93 million for the quarter, compared to the consensus estimate of $40.52 million. During the same period in the prior year, the company earned ($0.10) EPS. Plug Power’s quarterly revenue was up 76.7% on a year-over-year basis.
Shares of NASDAQ:PLUG traded up $0.05 during trading on Tuesday, reaching $1.93. 4,753,600 shares of the company’s stock traded hands, compared to its average volume of 3,269,720. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 4.16. Plug Power has a 12 month low of $1.53 and a 12 month high of $3.21. The company has a market cap of $412.41 million, a PE ratio of -3.22 and a beta of 1.08.
In other Plug Power news, Director Gregory B. Graves sold 31,343 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $1.73, for a total value of $54,223.39. Following the completion of the transaction, the director now owns 43,296 shares in the company, valued at approximately $74,902.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PLUG. Odey Asset Management Group Ltd grew its position in Plug Power by 90.3% in the 2nd quarter. Odey Asset Management Group Ltd now owns 4,910,000 shares of the electronics maker’s stock worth $9,918,000 after purchasing an additional 2,330,000 shares during the last quarter. Nomura Holdings Inc. lifted its stake in shares of Plug Power by 67.2% in the 2nd quarter. Nomura Holdings Inc. now owns 369,608 shares of the electronics maker’s stock worth $747,000 after acquiring an additional 148,511 shares during the period. LPL Financial LLC acquired a new stake in shares of Plug Power in the 1st quarter worth approximately $270,000. BlackRock Inc. lifted its stake in shares of Plug Power by 1.0% in the 1st quarter. BlackRock Inc. now owns 14,499,641 shares of the electronics maker’s stock worth $27,404,000 after acquiring an additional 142,606 shares during the period. Finally, Global X Management Co LLC acquired a new stake in shares of Plug Power in the 2nd quarter worth approximately $266,000. Hedge funds and other institutional investors own 30.46% of the company’s stock.
About Plug Power
Plug Power Inc, an alternative energy technology provider, engages in the design, development, commercialization, and manufacture of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.
Featured Story: Stock Selection – What is cash flow?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Plug Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power and related companies with MarketBeat.com's FREE daily email newsletter.